New York CNN —Stellantis, the maker of Chrysler, Jeep, Fiat and Peugeot among other brands, announced on Sunday that embattled CEO Carlos Tavares has resigned due to differences with the board and in the face of disappointing sales and calls for his ouster.
Tavares and the Stellantis board of directors had “different views,” which led to his resignation, Stellantis’ Senior Independent Director Henri de Castries, said in the release.
Tavares, 66, a Portuguese businessman who was central to the deal that merged French automaker PSA Group, maker of Peugeot, and the European-American automaker Fiat-Chrysler, into the newly named Stellantis.
Earlier this year, it was announced that Tavares would retire at the end of his contract in early 2026.
The decision for Tavares to step down came amid high Jeep prices and a disappointed consumer base.
Persons:
New York CNN — Stellantis, Carlos Tavares, Tavares, Stellantis, Henri de Castries, John Elkann
Organizations:
New, New York CNN, Chrysler, Jeep, Fiat, Peugeot, United Auto Workers union, PSA Group, Board, Interim, CNN
Locations:
New York, Portuguese, American